Buy Unitech With Target Of Rs 47

Buy Unitech With Target Of Rs 47Technical Analyst Rakesh Bansal of New Age Wealth has maintained 'buy' rating on Unitech Limited stock with a target of Rs 47 till expiry.

Mr. Bansal said that the stock can be purchased with a stop loss of Rs 37.40.

The stock of the bank, on March 24, closed at Rs 40.50 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 98.45 and a low of Rs 33.25 on BSE.

Current EPS & P/E ratio stood at 2.41 and 16.76 respectively.

Real estate company Unitech announced that it has sold more than 300 units worth Rs 200 crore under its mid-income housing scheme at Gurgaon.

Unitech has bagged more than 300 bookings, collecting about Rs 200 crore in its Unitech South Park project in Gurgaon.

In February, the country's second-biggest real estate company announced that it plans to make available 10 million sq ft (msf) of region by the next few months.

During the last week of February, the reality giant introduced a township scheme in Rewari.

According to Unitech's MD Sanjay Chandra, "These are in line with our business plan to launch almost 10 msf in the next few months."

"The demand and pricing environment of the residential product is stable and there has also been a marked improvement in the demand for office spaces. We are working on a wide array of projects to tap this growing demand," Mr. Chandra added.